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Pan-European Personal Pension Product (PEPP)

In June 2017 the European Commission published a “Proposal for a Regulation on a pan-European Personal Pension Product (PEPP)” which, according to the plans of the European Commission, is to close gaps in statutory, company and private pension schemes. From the consumer’s point of view the content of the draft regulation also requires improvement, above all in the important matters of options for cancellation, obligations to provide advice andinformation, avoiding conflicts of interests, and the incomplete regulation of the capital-back guarantee.